Mueller Industries (NYSE:MLI) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a report released on Monday.

NYSE MLI traded down $0.24 during midday trading on Monday, hitting $28.73. The company had a trading volume of 160,600 shares, compared to its average volume of 240,878. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.43 and a quick ratio of 2.35. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 19.28 and a beta of 1.43. Mueller Industries has a fifty-two week low of $25.26 and a fifty-two week high of $37.57.

Mueller Industries (NYSE:MLI) last released its quarterly earnings data on Tuesday, July 24th. The industrial products company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.04. The company had revenue of $662.77 million during the quarter, compared to the consensus estimate of $663.41 million. Mueller Industries had a net margin of 3.59% and a return on equity of 16.10%. sell-side analysts expect that Mueller Industries will post 1.82 earnings per share for the current fiscal year.

In other news, VP Anthony Steinriede sold 2,500 shares of the firm’s stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $31.96, for a total transaction of $79,900.00. Following the completion of the transaction, the vice president now directly owns 9,669 shares of the company’s stock, valued at approximately $309,021.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Scott Jay Goldman acquired 1,000 shares of Mueller Industries stock in a transaction dated Friday, August 24th. The shares were acquired at an average cost of $33.24 per share, with a total value of $33,240.00. Following the completion of the acquisition, the director now directly owns 11,000 shares in the company, valued at approximately $365,640. The disclosure for this purchase can be found here. Insiders have sold a total of 9,500 shares of company stock valued at $306,220 over the last ninety days. 2.80% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new position in Mueller Industries during the 1st quarter valued at about $174,000. Raymond James Financial Services Advisors Inc. bought a new position in Mueller Industries during the 2nd quarter valued at about $203,000. CIBC Asset Management Inc bought a new position in Mueller Industries during the 2nd quarter valued at about $222,000. Advisor Partners LLC bought a new position in Mueller Industries during the 2nd quarter valued at about $256,000. Finally, SG Americas Securities LLC lifted its holdings in Mueller Industries by 101.4% during the 1st quarter. SG Americas Securities LLC now owns 10,694 shares of the industrial products company’s stock valued at $280,000 after purchasing an additional 5,384 shares during the last quarter. 92.26% of the stock is owned by institutional investors.

About Mueller Industries

Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, Asia, and Mexico. Its Piping Systems segment manufactures copper tubes and fittings, plastic fittings, line sets, and related components for water distribution system, heating system, air-conditioning, and refrigeration applications, as well as drainage, waste, and vent systems.

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